• Elliptic, a blockchain analytics firm, has raised $60 million in funding to support R&D and expansion

  • Elliptic, a blockchain transaction tracking service, has raised $60 million in a Series C funding round led by Evolution Equity Partners. The funds will be used for research and development (R&D) as well as international expansion.

    The funding will also aid in the expansion of Elliptic’s team, particularly in the United States. SoftBank Vision Fund 2, AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire, and Paladin Capital Group are among the investors in London-based Elliptic.The fundraising highlights the growing interest in the transaction-analysis industry as businesses strive to comply with anti-money laundering regulations and track the proceeds of successful hacks. Mastercard agreed to purchase CipherTrace for an undisclosed sum last month. Chainalysis, a peer whose clients include government investigators, was valued at $2 billion in a Series D funding round in March. “Because of the unique nature of cryptocurrency as a maturing asset class, there is a growing need for enterprise-grade compliance and transaction monitoring tools,” said Neil Cunha-Gomes, an investor with SoftBank Investment Advisers.Elliptic, which was founded in 2013, also announced the addition of Richard Seewald, the founder and managing partner of Evolution Equity Partners, to its board of directors.

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